Macau’s Global Gambling Crown Slips With Chinese Staying Home

In a normal year, right about now would be the start of a tourism tsunami across China. And after five months of near-zero revenue, Macau’s pandemic-weary casinos were hoping that a rush of travelers during China’s Golden Week would provide a fast rebound. Starting Oct. 1, the anniversary of the founding of the People’s Republic, the holiday—it actually lasts eight days this year—usually sees the world’s biggest gambling hub hit more than twice its normal population as mainland punters stream in.

But even though Beijing finally started handing out visas and easing travel restrictions over the past two months, Macau has seen only a trickle of arrivals, and its gaming floors remain largely empty. The most optimistic predictions now are that Golden Week will deliver half of last year’s almost 1 million tourists—a big disappointment for a local economy that contracted 68% in the second quarter.